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The 10XROI System - A High "R" Factor Approach

  • #81
  • Nov 23, 2013 10:58pm Nov 23, 2013 10:58pm
Long on usd seems more plausible since ecb want to cut the rate. Short the eur.
"HEY! Whats all this chocolate on yo face?" - "It's doodoo, babby!"
  • #82
  • Nov 24, 2013 10:14am Nov 24, 2013 10:14am
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 45 KB
"HEY! Whats all this chocolate on yo face?" - "It's doodoo, babby!"
  • #83
  • Nov 24, 2013 12:10pm Nov 24, 2013 12:10pm
Hi Pipskateer

Been looking over a few recent charts for good setups and I think I may have one that we missed by a few days, it was also good for a 10xROI in about 3-4 days, depending on entry...
Chart 1(D1) should read Resistance Line Break.
Your opinion and advice will be much appreciated.

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: gbp jpy D1 24-11-13.png Size: 36 KB

Attached Image (click to enlarge)
Click to Enlarge Name: gbp jpy h1 24-11-13.png Size: 29 KB
  • #84
  • Nov 24, 2013 12:29pm Nov 24, 2013 12:29pm
Quoting Pipskateer
I do not post very often at ForexFactory, nor have I started many threads. However, today there is a need for a new thread to discuss and test what I believe is a technically very sound and worthwhile trading system. It's more than a system really...it's a paradigm shift in and of itself where Reward/Risk and trade management are concerned. It is called the 10XROI System and it was first introduced by another ForexFactory member just a few days ago who, unfortunately, must remain nameless and is unable to post here due to commercial restrictions....


you really havent explained the rules in a simple easy to understand manner at all. all you have done is copy exactly what was in the e-book. you need perhaps do bullet points so that even a layperson can comprehend what is being said, because the rules are not easy to follow at all. anyone who says otherwise is deluding themselves.

and i have a law degree, even i cannot make out what the author is saying. try to put the rules in practice you will soon realise more clarification on the rules is required.
  • #85
  • Nov 24, 2013 3:34pm Nov 24, 2013 3:34pm
Whatfx . I think Pipskateer has done a great job in explaining the system,especially for those that have not purchased the E books.

Which part are you struggling with, the daily pullback to the previous days resistance level or finding an entry on the hourly chart.

I hope lots of new traders read this thread and realise that small stops and longer targets like 10R is a great way to trade

Perhaps we can help you.

Cheers
  • #86
  • Nov 24, 2013 4:29pm Nov 24, 2013 4:29pm
Quoting whatfx
{quote} you really havent explained the rules in a simple easy to understand manner at all. all you have done is copy exactly what was in the e-book. you need perhaps do bullet points so that even a layperson can comprehend what is being said, because the rules are not easy to follow at all. anyone who says otherwise is deluding themselves. and i have a law degree, even i cannot make out what the author is saying. try to put the rules in practice you will soon realise more clarification on the rules is required.
Hello Whatfx,

I'm sorry you are having trouble understanding. Can you be more specific about what areas you are having difficulty with?

Off-Topic: Incidentally, I'd like to ask you a law related question, just for fun?
Without looking this up on the internet (I know you're a lawyer, but I'll trust you this once.), can you please name all the valid American organic laws?
  • #87
  • Nov 24, 2013 4:58pm Nov 24, 2013 4:58pm
10XROI Condensed Version

  1. Setups occur in the form of a "Push/Pull" candle pattern (see examples at beginning of thread) and are found ONLY on the Daily Charts for this system. A condition of STRONG MOMENTUM is a prerequisite and must be identified to validate the candle pattern. The 3SMA and 10SMA's are the primary tools used to identify strong momentum is present for a VALID Push/Pull patter. Additional trade "context" factors are desireable and are described in the first posts.
  2. Once a setup is identified, you will then seek an entry on the H1 chart into the direction of the momentum from the D1 setup. The nature of the Push/Pull candle pattern is that it prompts you to begin looking for an entry ONLY after a PULLBACK has occured against a PUSH of strong momentum. The idea is to get a tight stop H1 entry at a place where price is likely to RESUME it's momentum in the original D1 direction.
  3. Use whatever technicals you prefer, such as trendilne breaks, pivot candle breaks or whatever entry method of your choice you think will give you a tight stop. Tight stop = 40 pips or less. Keep in mind that you are looking for a 10R return. So, if you have a 40 pip stop, the market will have to move 300 pips in your favor. If your stop is only 15 pips, you will only need a profit of 150 pips. The tighter the stop, the better the chance of success at 10R.
  4. Once in the trade, do not move your stop to BE until after the first significant hourly pullback. This is a bit subjective, but a proper pullback should be more than just a 3 or 4 candle fractal.
  5. Your TP should be set at 10 times your initial risk, or a profit factor of 10R.
  6. If the pair you are trading has a low ADR, then you may want to shoot for 8R instead of 10R.
  7. Rinse and repeat.

Hope that helps!

  • #88
  • Nov 24, 2013 5:09pm Nov 24, 2013 5:09pm
Quoting ZA-Trader
Hi Pipskateer Been looking over a few recent charts for good setups and I think I may have one that we missed by a few days, it was also good for a 10xROI in about 3-4 days, depending on entry... Chart 1(D1) should read Resistance Line Break. Your opinion and advice will be much appreciated. Regards {image} {image}
Hi ZA,

I think that's an acceptable setup. If you missed the trade on the first try, you could also have looked for an entry on the very next day which was another pullback. Good job!

I just have NOT had much time to scour charts yet for these setups. We're getting ready to head out of town for Thanksgiving and it's been pretty hectic. Hoping to do some charting over the holiday, if I can find a quiet little corner away from the hustle/bustle!
  • #89
  • Nov 24, 2013 5:11pm Nov 24, 2013 5:11pm
Quoting 110101
{image}

Hi,

I don't see a proper setup on this. It's missing a pullback against the momentum. You gotta have a "push" of strong momentum, then a pullback...then find your entry on H1 during the pullback.

EDIT: Oh sorry, I couldn't see the wick on the #2 candle first time I looked. The only thing I would say about this pattern is that I don't think it's a "textbook" example of a push/pull candle pattern, so you would have to do some testing to be sure these will work as well or better than the others which the system creator has put forth. Most of the other pattern examples I've seen seem to have a bear pullback candle for a bull move and vice versa. Just do your testing first.
  • #90
  • Nov 24, 2013 5:21pm Nov 24, 2013 5:21pm
Quoting oztrader
Whatfx . I think Pipskateer has done a great job in explaining the system,especially for those that have not purchased the E books. Which part are you struggling with, the daily pullback to the previous days resistance level or finding an entry on the hourly chart. I hope lots of new traders read this thread and realise that small stops and longer targets like 10R is a great way to trade Perhaps we can help you. Cheers
Thanks Oz!
  • #91
  • Nov 24, 2013 5:22pm Nov 24, 2013 5:22pm
Quoting 110101
Usdpln looks like a buy to me on weekly and daily. The spread is a concern but the pair moves.

Is this in relation to a Push/Pull setup? Do you have a chart?
  • #92
  • Nov 24, 2013 5:22pm Nov 24, 2013 5:22pm
Quoting 110101
Long on usd seems more plausible since ecb want to cut the rate. Short the eur.

Setup chart?
  • #93
  • Nov 24, 2013 5:30pm Nov 24, 2013 5:30pm
Pip, I'm away from my computer now but I will follow up.

In regard to the chart I've posted I'm now looking for a pullback, a third candle that would touch the low of the second and reverse in back up. Am I wrong for thinking that?
"HEY! Whats all this chocolate on yo face?" - "It's doodoo, babby!"
  • #94
  • Nov 24, 2013 5:33pm Nov 24, 2013 5:33pm
Quoting 110101
Pip, I'm away from my computer now but I will follow up. In regard to the chart I've posted I'm now looking for a pullback, a third candle that would touch the low of the second and reverse in back up. Am I wrong for thinking that?
No, that would be correct.
  • #95
  • Nov 24, 2013 8:55pm Nov 24, 2013 8:55pm
Leaving in the morning to go out of town for about a week for Thanksgiving. Please try to post some historic trades or new ones if you see them. I may or may not have internet access while I'm away, so I'll see you when I get back.

Have a safe and happy Thanksgiving everyone!
  • #96
  • Nov 25, 2013 12:13pm Nov 25, 2013 12:13pm
IS THIS A POTENTAIL PUSH/PULL?
Daily: EURUSD
current price: 1.3513

Candles #1 and #2 complete, candle #3 pulling back now
SMA 3 pulling away from SMA 10

Anticipate a test of the 1.3481 area, the closing price of candle #1
Attached Image (click to enlarge)
Click to Enlarge Name: 2013 11 25_EURUSD_PushPull.jpg Size: 269 KB
  • #97
  • Nov 25, 2013 12:38pm Nov 25, 2013 12:38pm
ANOTHER POTENTIAL PUSH/PULL ?
USDCHF: Daily
Current Price: 0.9119

Candle #1 and #2 closed, Candle # 3 pulling back now
SMA 3 pulling away from SMA 10

Anticipating a test of the 0.9127 area, the closing price of Candle #1 (now complete?)
Attached Image (click to enlarge)
Click to Enlarge Name: 2013 11 25_USDCHF PushPull.jpg Size: 280 KB
  • #98
  • Nov 25, 2013 7:24pm Nov 25, 2013 7:24pm
Quoting deanoracer
IS THIS A POTENTAIL PUSH/PULL? Daily: EURUSD current price: 1.3513 Candles #1 and #2 complete, candle #3 pulling back now SMA 3 pulling away from SMA 10 Anticipate a test of the 1.3481 area, the closing price of candle #1 {image}

I believe this almost qualified per rules.
"HEY! Whats all this chocolate on yo face?" - "It's doodoo, babby!"
  • #99
  • Nov 27, 2013 7:18am Nov 27, 2013 7:18am
So would these 4 candle on USDCAD daily be counted as Push / Pull? I don't think the context is right as they are hitting a weekly resistance level, but just wanted to check on the candles themselves.

Attached Image (click to enlarge)
Click to Enlarge Name: usdcaddaily.png Size: 28 KB
  • #100
  • Nov 27, 2013 11:40am Nov 27, 2013 11:40am
Deanoracer and Shandy,

Check your inbox ,you'll find some useful info there.


Have a great day,

Deepfx
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